David Cameron’s hopes of securing a sweeping crackdown on tax evasion at next week’s G8 summit were in jeopardy last night as Bermuda led a revolt by Britain’s overseas territories.

The Prime Minister had hoped to sign up all crown dependencies and overseas territories to a commitment to greater transparency. The aim was to win their agreement on Saturday, before Mr Cameron hosts the G8 summit in Northern Ireland beginning on Monday.

However, Bermuda threw a spanner in the works by suggesting it was unhappy with some of the details. There were “stumbling blocks”, said Craig Cannonier, the Bermuda premier